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Abraxas Capital Leads Ethereum Buyers with Over $837 Million Investment

Abraxas Capital Leads Ethereum Buyers with Over $837 Million Investment

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by Giorgi Kostiuk

6 hours ago

Ethereum (ETH) has once again captured investor attention due to active purchases by the investment firm Abraxas Capital.

Abraxas Capital's ETH Purchases

Over the past 14 days, Abraxas Capital has purchased more than $837 million in ETH, starting with an acquisition of 46,295 ETH worth approximately $115.3 million on May 7.

Abraxas Capital’s Position in the Crypto Market

Currently, Abraxas Capital holds over $959 million in cryptocurrency, with a significant portion in ETH, which is utilized as collateral on various DeFi protocols. Key assets besides ETH include AWETH and WSTETH.

Impact of Ethereum Prices

Since May 6, ETH has surged by 41%. This increase coincided with Abraxas Capital's active buying, with prices rising from $1,770 to $2,690, currently trading around $2,511.

The active involvement of Abraxas Capital in the ETH market underscores a growing interest in this cryptocurrency, which may influence future market developments.

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